Key performance indicators (KPIs) are essential metrics companies use to measure how they’re doing. KPIs help decision makers ensure their choices are informed. Most companies have invested in complex and extremely costly databases with KPI dashboards to keep tabs on their performance. These KPIs are frequently only available to decision makers and the management team. Couldn’t sharing them with employees and customers also be beneficial? Read on to learn about which types of KPIs are best shared for maximum benefit.
Indicator #1: Production Indicators
KPIs are often used to monitor production and can be useful for motivating employees. These KPIs include quantity produced, reject ratio, production targets, and downtime, among others.
Sharing the quantity produced in the above example with the product 2 team may motivate them to continue their good work. Highlighting good performance is obviously important. Plus, sharing this information might also motivate the product 4 team to work harder to achieve better results or determine what occurred in January to cause a slump in production.
Indicator #2: Quality Control Indicators
Quality control indicators are also information that is worth displaying and communicating to a company’s various departments. These metrics are very diverse and range from cost of quality to percentage of compliant products and number of defects.
Displaying this data promotes transparency between management and employees. Providing easy access to information often has a beneficial effect on employees. To perform at a high level, workers needs to feel like they are part of the team. Displaying data that was formerly reserved for managers is an effective way to promote engagement and better performance.
Indicator #3: Project Progress Indicators
All departments in a company can benefit from knowing the progress of ongoing projects. This allows all employees, whether on the production floor or in the offices, to have a common vision of the work done. This overview is motivating since it reflects globally the situation according to the tasks performed by the different departments.
Indicator #4: Shipment Indicators
A diverse array of companies deal with shipping. Many employees would likely be interested in knowing how many products have shipped, the number of on-time and complete shipments, etc. during a given month compared to previous months and during the same month the previous year. The ultimate goal of displaying these KPIs is to show employees how their work translates into measurable results.
Production, quality control, project progress, and shipments are four KPI categories all of your employees should know. Want to go a step further? Keep reading to learn about a few bonus points you can think about!
Keep Your Customers Informed
Why not share some of your best data with your customers, too? Your customers would probably be interested in hearing that your shipments increased over the past few months, indicating that your business is doing well, or that you have a particularly low defect rate. You can share this information with customers and suppliers in your waiting or conference rooms.
Dynamic Digital Signage for Communicating KPIs
Email is the most commonly used method for communicating with employees and is increasingly common for communicating with customers.
That said, some employees do not have regular access to email throughout the work day, particularly in fields like manufacturing where most workers are on the floor and not looking at email. Thankfully, there is a cutting-edge solution to help communicate KPIs to all of your employees: dynamic digital signage.
For manufacturing companies, dynamic digital signage is an interesting solution for communicating effectively with employees on the floor. A screen placed in a strategic location, for example, can be used to broadcast KPIs that are specific to a department or task.
In addition to KPIs, dynamic digital displays can be used to show several other types of messages. Want to learn more? Check out our article on 5 types of messages you need to share with your employees.
To find out even more, check out 5 good reasons why you should use digital signage in a factory.
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